
Budget 2026: No more fat to trim for 'squeezed middle'
By Marcus Chen
BBC Business
Advertisement

The world of fashion has so often been seen as belonging to a select few outposts in London, Milan, Paris and New York. But in 2026 it now belongs, at least in part, to sport. That’s not to say Roman Abramovich is buying Vogue or the Saudi Arabian Public Investment Fund ponders whether to back Alexander McQueen or Vivienne Westwood on a daily basis; but suits, belts and couture are now undoubtedly embedded within the sports sector. And nowhere is that more true than in Formula 1. Having signed a 10-year, $1bn deal with LVMH – the parent company of Louis Vuitton, Christian Dior, Tag Heuer and many more luxury brands – Formula 1 has placed fashion front and centre of its outward-facing commercial aesthetic. Teams now have fashion labels as sponsors, traditional sports apparel brands are delivering entire collections to the paddock, and next year the grid will gain a fashion house as a primary sponsor when two of the 22 cars will race under the Gucci Racing Alpine Formula One Te